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Hi this is Julia and Spencer I'm a real estate advisor investor and enthusiast your number one source for real estate advice online, and I'm here in the beautiful city of New York behind me, you can see is the Freedom Tower this is obviously a very historic site, and I am so glad to be visiting here today on this beautiful sunny day and I want to talk with this video briefly about tax lien foreclosures as you know and tax deeds foreclosures are my favorite topics I did research some of the ways that it is done here in the city of New York and one of the departments that sells tax deeds is the Department of citywide administrative services this is where you can go on their website you can download a sales brochure it will have pictures of the properties that they sell the starting bids it will have information on the properties, and you can purchase a piece of New York real estate right there which is a historic place as you know some of the things that are very important to note about buying from that particular department is that as opposed to other tax foreclosures you actually have 45 days to make a full payment you do have to put a deposit when you purchase a property like that here, but you have 45 days to pay the balance basically which is unusual for tax foreclosure sale by a city another thing that you need to note is that because they published a brochure for sale a lot of times these properties are actually owned by the city which means that there are sometimes even tenants in these properties, and you basically are buying not just the property but also the least contract, so you can buy a property that's already leaves that's already on the contract, and you have very little to do with it, you don't have to remodel it or do anything else with it but one thing that I do want to note that is when I looked at the sales list, and you can do this yourself you can go on their website and search it you can go on my website too and find out where you should search for properties like this but one thing that I noted is that the properties sometimes are just vacant lots or parking lots and just land that's kind of an odd shape, and you can't really do anything with it, so I always recommend doing your due diligence to do your research to go on the websites to call the people from that department and find as much information as you can before you actually purchase properties in this city or any other city where you want to invest so for more information like this and tips how to do this how to safely invest in tax sale foreclosures go to my website it's Julia m Spencer calm sign up for my free newsletter and download your free guide to real estate investing today thank you for your free guide to real estate investing visit Julia M Spencer calm
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